Texas Campus Fires Director of Student Aid

By

Anne Marie Chaker and

John Hechinger

Updated May 15, 2007 12:01 a.m. ET

The University of Texas fired the financial-aid director at its flagship Austin campus and released a detailed report denouncing his management team's "almost complete lack of awareness related to basic ethics and conflict-of-interest principles."

The university had previously placed Lawrence W. Burt, director of the office of student financial services at the University of Texas at Austin, on leave in the wake of a probe by New York Attorney General Andrew Cuomo. Mr. Cuomo's investigation revealed Mr. Burt owned...